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July 2008

FM’s observations at CC & DG meeting

By Raman Jokhakar, Tarunkumar Singhal, Chartered Accountants
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38 FM’s observations at CC & DG meeting



The Finance Minister of India, Mr. P. Chidambaram, in his
inaugural address delivered at the 24th Annual Conference of Chief Commissioners
and Directors General of Income Tax in New Delhi on
the 9th June 2008, congratulated the Income Tax Department for direct tax
collection of Rs.3.14 trillion.


He, however, observed that the quality of tax scrutiny could
further improve if tax authorities repose more trust on taxpayers and not view
every case generated by the computer-aided scrutiny selection with suspicion.





[Source : Press Release No. 402/92/2006-MC (24 of
2008) Govt. of India/Ministry of Finance 17-6-2008]

 



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